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Rose P Petroleum p plc Corpor orate p e pres esentation on (AIM: ROSE) OIL & GAS EXPLORATION 14 May 2018 www.rosepetroleum.com www.rosepetroleum.com www.rosepetroleum.com Disclaimer The information contained in this presentation


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Rose P Petroleum p plc Corpor

  • rate p

e pres esentation

  • n

(AIM: ROSE)

OIL & GAS EXPLORATION

www.rosepetroleum.com www.rosepetroleum.com www.rosepetroleum.com 14 May 2018

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SLIDE 2

Disclaimer

The information contained in this presentation (the "Presentation") has been prepared by and is the sole responsibility of the directors of Rose Petroleum PLC (the "Company"). This Presentation is not intended to be, and should not be construed as, any advice on the merits of, or any recommendation to any recipient or reader of this document in relation to, the purchase of securities in the Company. Recipients and readers of this document should seek their own independent legal, investment and tax advice as they see fit. The content of the Presentation has not been approved by an authorised person within the meaning of the Financial Services an d Markets Act 2000 (“FSMA). Reliance on the presentation for the purpose of engaging in any investment activity may expose an individual to a significant risk of losing all of the property or other assets invested. Any person who is in any doubt about the subject matter to which the presentation relates should consult a person duly authorised for the purposes of FSMA who specialises in the acquisition of shares and other securities . The Presentation and any further confidential information made available to any recipient, either verbally or in writing, mus t be held in complete confidence and documents containing such information may not be reproduced, used or disclosed without the prior written consent of the Company. The Presentation shall not be copied, reproduced or distributed in whole or in part at any time. The information contained in the Presentation is not intended to be viewed by, or distributed or passed on (directly or indirectly) to, and should not be acted upon by any class of person other than (i) qualified investors (within the meaning of the Prospectus Directive 2003/71/EC) and (ii) investment professionals falling within Article 19(5) and high net worth companies falling within Article 49(2) respectively of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (or persons to whom it may otherwise be lawfully communicated) and may only be supplied, if permitted by applicable law, outside the United Kingdom to professionals or institutions whose ordinary business involves them engaging in investment activities (together "Relevant Persons"). Persons who are not Relevant Persons should not attend the Presentation or rely on or act upon the matters communicated at the Presentation. The Presentation does not constitute a prospectus relating to the Company . It has not been approved by the Financial Conduct Authority, nor does it constitute or form part of any offer to sell, or the solicitation of any such offer or invitation to subscribe for, underwrite or buy, any shares in the Company or any of its affiliates to any person in any jurisdiction, nor shall it nor any part of it nor the fact of its distribution form the basis of, or be relied on in connection with, any contract or investment decision in relation thereto. No reliance may be placed for any purpose whatsoever on the information contained in the Presentation or any assumptions made as to its completeness. The information contained in the Presentation, which has not been independently verified, is for background purposes only and is subject to verification, updating, revision and amendment and completion without notice. This Presentation does not purport to be all-inclusive or to contain all the information that an investor may desire to have in evaluating whether or not to make an investment in the Company. Certain statements in the Presentation are forward-looking statements, and the Presentation itself has been based upon a number of assumptions, forecasts and projections which by their nature are forward looking. Forward-looking statements are typically identified by the use of forward-looking terminology such as "believes", "expects", "may", "will", "could", "should", "intends", "estimates", "anticipate", "plans" or "assumes" or similar expressions, or by discussions of strategy that involve risk and uncertainties. By their nature, forward-looking statements, assumptions, forecasts and projections involve a number of risks and uncertainties, and in some cases are based on estimates and incomplete information, that could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements or by the Presentation as a whole. These risks and uncertainties, and the impact they have on the assumptions, forecasts and projections contained in the Presentation, could adversely affect the outcome and financial effects of the plans and events described herein. No representation or warranty, express or implied, is made or given by or on behalf of the Company or its directors or any ot her person as to the accuracy, completeness or fairness of the information or opinions contained in this document and no responsibility or liability is accepted to any recipient for any such information or opinions. Notwithstanding this, nothing in this paragraph shall exclude liability for any such representation or warranty made fraudulently. The distribution of this document in certain jurisdictions may be restricted by law and therefore persons into whose possessi on this document comes should inform themselves about and observe any such restrictions. Any such distribution could result in a violation of the law of such jurisdictions. Neither this document nor any copy of it may be taken or transmitted into the United States, Canada, Japan and the Republic of Ireland or distributed to the United States, Canada, Japan or the Republic of Ireland or to any national, citizen or resident thereof or any corporation, partnership or other entity created or organised under the laws thereof.

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www.rosepetroleum.com www.rosepetroleum.com www.rosepetroleum.com

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Executive summary

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  • Rose Petroleum PLC (AIM: ROSE) is a North America-focused oil and gas company

earning into 75% working interest (“WI”) in approx. 80,000 acres (125sq miles) in the Paradox Basin, Utah, U.S.A.

  • Company focused on drilling its first appraisal well in Paradox Basin by end of 2018
  • 40sq mile of modern, high quality, 3D seismic data acquired end of 2017
  • Additional acreage acquired based on results of seismic survey
  • ~60 drill targets identified on 3D seismic area
  • Within 3D seismic covered acreage Rose has potential for Unrisked Prospective

Recoverable Resources of 38mmboe gross mean in Clastic 21 only

  • Permitting for first two well locations underway: permits expected in Q3 2018
  • Experienced operational team with successful track record in Basin
  • Drilling of first appraisal well planned for Q4 2018
  • Funding discussions with potential industry and financial partners underway

CLEAR STRATEGIC FOCUS AND SIGNIFICANT VALUATION UPSIDE POTENTIAL

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www.rosepetroleum.com

Paradox Basin

Rose acreage Prolific Rocky Mountain Basin

  • Exploration and production from 1961
  • Major fields – Aneth, Lisbon have produced over

550mmbo and 1.2 TCF

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Paradox Basin Overview(1)

  • History of operational success
  • Total cumulative production from Cane Creek Field: 7.9 MMBO and 5.7 BCFG
  • Directly South of Rose acreage (12 miles)
  • Strong potential economics
  • Gross well EUR: 894kboe (~0.55mmbo and ~2BCF associated gas)
  • Appraisal well costs estimated in the region of US$7-8m
  • Substantial land position ~80k net acres
  • Historic production from Clastic 21 – primary target for Rose
  • Naturally fractured resource play - No need to Frac
  • Comparable to the highly productive Cane Creek Field nearby
  • Proven production within Rose 3D area – 141kboe to date from 28-11 vertical well,

just 365 metres east of Rose’s acreage

  • Additional reservoir potential Clastic 18/19

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Rose Acreage 28-11 Proven Production Cane Creek Field

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Paradox Basin Overview(2)

  • Management team expertise
  • Operations team has extensive experience + strong, successful record in Paradox Basin
  • Team previously designed and implemented a nine-well drilling programme in Basin for Fidelity

Exploration and Production

  • Eight of those nine wells were commercially viable
  • Production grew from circa 100 BOPD to over 3,500 BOPD
  • Seismic data acquired in 2017 is of excellent quality
  • 3D seismic covers ~15k acres; ~60 drill locations already identified in Clastic 21
  • Strong relationships in the Basin
  • JV partner Rockies Standard Oil Company
  • Permitting
  • Permitting for GVU29-1 and 22-1 well underway
  • Regulatory Environment improved by Trump administration
  • Excellent local infrastructure
  • 16 inch Gas pipeline runs directly through Rose acreage
  • Road and Rail transport for Oil to Salt Lake City or New Mexico refineries
  • Grand Junction (1.5hrs drive down I70 highway) local Oil services centre

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Rose Acreage 28-11 Proven Production Cane Creek Field

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Analogy to Cane Creek Field

  • Cane Creek 12-1 well: Cane Creek Field oil producer : >1mmboe

production

  • Top 5 producing wells onshore US in 2013
  • Analogy: Cane Creek structural character
  • Elongate, compressional features, often associated with minor

thrust faults

  • Presence of the ‘curvature’ seismic attribute along the well track
  • Similar features shown at GVU 29-1 location
  • Complex structures create fracture porosity and permeability –

drives well productivity

7 Elongate Compression al feature Elongate Compressional feature Thrus Fault Thrust fault Curvature Curvature From Watkins et al 2017

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Analogy to Cane Creek Field

  • Cane Creek Field links productivity to curvature
  • Outcrop examples then link curvature to fracture networks

8 Elongate Compressional feature Thrust fault Curvature From Watkins et al 2017

Curvature Curvature Curvature

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Well Design and Planning

  • High quality 3D seismic eliminates need for pilot hole

drilling (~US$1mm saving for initial wells)

  • Intermediate casing strings to optimise;
  • Drilling of the shallow Paradox Formation, and
  • Clastic 21 reservoir lateral
  • No requirement for hydraulic stimulation
  • Simpler, lower completion costs
  • Dry hole cost: US$5.5m per well
  • Drill, complete and tie-in cost: US$7-8m per well
  • Well permitting in progress
  • Detailed well engineering underway

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Top Paradox Fm Top Cane Creek cycle Base Cane Creek cycle

www.rosepetroleum.com

  • Appraisal well design for drilling (29-1 & 22-1)
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Key event work programme

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Operational Progress to date

 High resolution, 3D seismic data acquired, processed and

Interpreted

 Clastic 21 reservoir geophysical interpretation completed  ~60 well locations identified  First well locations selected and Permitting commenced

x2

 Completed £1m fund raise at 3.25p  Updating CPR in progress  Conceptual Field Development Plan completed  Farm-In process commenced

Upcoming Milestones (News flow)

  • Application to drill permit (APD) submittal

 NOS already submitted

  • Updated CPR (incl. Independent Valuation)
  • Detailed well planning
  • Greater GVU exploration area evaluation
  • Secure financing for drill programme – Farm-in

Process underway

  • Plan to spud well in by end of 2018
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  • Rose’s Paradox project represents an exciting opportunity with significant upside potential
  • 80,000 net acres of which only 15,000 acres have been assessed to date
  • Within 3D seismic covered acreage Rose has potential Unrisked Prospective Recoverable Resources of 38mmboe gross mean in

Clastic 21 only (CPR being updated)

  • Additional prospective clastics yet to be assessed (Clastics 18/19)
  • Existing Infrastructure “Plug & Play” (Road/Rail/Refinery/Pipeline Access on acreage)
  • Strong potential economics
  • De-risked by excellent 3D seismic data, direct production for the 28-11 well 365 metres from acreage and analogue

production from Cane Creek Field direct to the South

  • Operations Team have extensive subsurface operations experience and success in the play (Oversight of 100 to 3,500

bopd production increase 2012-2014 Cane Creek Field)

  • Drilling permitting expected to be complete in Q3 2018
  • Initial appraisal well planned for Q4 2018
  • Current market capitalisation: ~£3.85m at market close on 10th May 2018 (mid price 3.1p per share)

CLEAR STRATEGIC FOCUS AND SIGNIFICANT VALUATION UPSIDE POTENTIAL

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Conclusion

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US E & P Valuation Comparison

US E&P VALUATION COMPARISONS mmboe EV/boe Net acres Production Reserves mmboe Prospective Prospective + Market Prospective + EV Stock Symbol Price $ Basin/play thous ands mboe/d 1P 3P resources reserves cap $m EV $m 1P 3P reserves $/acre Rose Pet ROSE.AIM 4.23Parx 80 463 463 5 4 50 Bonanza Creek BCEI 33.39DJN, CVS 93 16.8 102 684 694 6.8 7462 Carrizo O&G CRZO 24.49EF, Perm 122 62.4 262 2010 3620 13.8 29672 Concho Res CXO 157.69Perm 640 267 1216 12200 13416 31614 35601 29.3 2.7 55627 Continental Res CLR 68.06Bakk, Anad 1784 293 1331 24901 30969 23.3 17359 EP Energy EPE 2.61Un, EF, Perm 455 80.1 392 556 4572 11.7 10048 Goodrich Pet GDP 13.07Hayn, EF, TMS 112 13.3 71 214 285 146 176 2.5 0.6 1571 High Point Res HPR 6.55DJN 151 31.5 86 1389 1782 20.7 11801 Parsley Energy PE 32.49Perm 215 103 416 10301 12918 31.1 60084 PDC Energy PDCE 59.99DJN, Perm 160 110 453 3963 5076 11.2 31725 Pioneer Res PXD 201.52Perm, Eagle Ford 1479 312 985 33685 34700 35.2 23462 Resolute Energy REN 34.44Perm 21 31 53 771 1331 25.1 63381 Sanchez Energy SN 3.25EF 285 80.6 363 277 2475 6.8 8684 SilverBow Res SBOW 30.71EF, Perm 102 26 166 360 605 3.6 5931 Whiting Pet WLL 46.48Bakk, DJN 647 128 618 4214 7044 11.4 10887 Source: Allenby Capital, Thomson Reuters and company reports Basin and play key: Parx Paradox Basin Utah, DJN Denver-Julesburg Basin Colorado/Wyoming, CVS Cotton Valley sandstone Arkansas/Texas, EF Eagle Ford Texas, Perm Permian Basin Texas/New Mexico (Midland and Delaware Basins), Bakk Bakken Williston Basin North Dakota, Anad Anadarko Basin SCOOP and START plays Oklahoma, Un Unita Basin Utah, Hayn Haynesville shale play Arkansas, Tuscaloosa Marine Shale, Note: Prices at May 10, 2018 status, Rose share price converted at £1=$1.35 Concho technical and financial data are shown on a pro-forma basis including the RSP Permian acquisition. Rose Petroleum's resources reflect Ryder Scott's un-risked estimates for the Parodox property of 1.1bn barrels of oil and 2.2 tcf of gas. Un-risked prospective resources of 1.49 bn boe have been risked using Ryder Scott's COS of 31% contained in the 2014 CPR.

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Contact us

Rose Petroleum plc Matthew Idiens (CEO) Chris Eadie (CFO) First Floor Newmarket House Market Street Newbury Berkshire RG14 5DP United Kingdom +44 (0)20 7225 4595

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www.rosepetroleum.com

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Background

  • Rose Petroleum plc (AIM: ROSE) listed on AIM in June 2004
  • Legacy mining assets now disposed (Mexican milling operation sold in 2017 for US$1.5m)
  • Share Price: 3.10p (mid price at market close on 10th May 2018)
  • Ordinary shares of 0.1p each in Issue: 123,908,709
  • EGM on 21st May an additional 19,505,231 (if approved)
  • Total expected issued post 21st May: 143,413,940
  • Market capitalisation: £3.84m (mid price at market close on 10th May 2018)

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www.rosepetroleum.com

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Board of Directors

Non-Exec Chairman – Phillip Jeffcock

  • Founder and Managing Partner of Cew Capital LLP
  • Previously Phillip worked at Barclays Capital and global head of

commercial real estate for Barclays Wealth. He also held senior positions at Goldman Sachs and Royal Bank of Scotland Plc

  • Member of the Royal Institution of Chartered Surveyors and holds a BSc

(Hons) from the Cass Business School, London

Finance Director - Chris Eadie

  • Qualified Chartered Accountant (PWC)
  • 17 years experience in capital markets
  • Previously FD of AIM quoted Aurum Mining

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www.rosepetroleum.com

CEO – Matthew Idiens

  • Co-founder of Rose
  • +20 years experience in the natural resources sector
  • Co-founder and Non Exec Director of Hummingbird Resources plc
  • Co-founder and Director of Seamwell International Ltd

Director (O&G) – Kelly Scott

  • 40+ years of experience in onshore and offshore rig operations across

the globe

  • Previously worked with 3Legs Resources, Encana, Esso, Reading & Bates

among others

  • Drilled and frac’d the first two horizontal shale wells in Europe
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Operations team background

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Petroleum Engineer - Consulting Drilling Manager

  • Petroleum engineer with extensive experience drilling in the Paradox Basin.
  • Delivered drilling programme designed by Dave List taking production from

100b/d to 3,500b/d in 18 months (2012-2014)

David List - Consulting Geophysicist

  • Geophysicist with over 32 years of experience with MSc in Geophysical Engineering from

Colorado School of Mines

  • Most recently was Senior Geophysicist for Fidelity leading the exploration and development in

the Paradox Basin for 9 years

  • Designed, shot and interpreted Fidelity’s 3D programmes in the Paradox Basin
  • Planned and steered all Fidelity’s horizontal wells in the Paradox Basin
  • Extensive experience with fractured reservoirs (South America, Mexico, US, Middle East)
  • Adept in interpreting and integrating geophysical, petrophysical, and engineering data into

geo models for development plans

Todd Fockler - Consulting Field Geophysicist

  • Geophysicist with over 35 years of experience with BS in Geophysics from Colorado School
  • f Mines
  • Started career in Middle East and Africa and later worked basins all across the US in over 40

locations

  • In 2004, was awarded patent on new seismic recorder and formed AscendGeo company
  • Has consulted seismic programmes since 2009 and managed permitting, surveying, and

acquisition in basins across the US

  • Led the field seismic work for all the Fidelity Paradox shoots

Gregor Maxwell - Technical Advisor to the Board

  • Geologist with 25 years experience, PhD in reservoir geology from

the University of Aberdeen

  • Broad experience from Chevron and Apache with successful roles

in field development, exploration and business development

  • Small cap E&P experience developing Rocksource ASA exploration

portfolio and onshore US field development